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88J..05524 1)20030642 RELEASE AND ASSUKPTION AGREEKENT Agre.~.nt mad.___~~:_!!~_________, 19_~~___. b.tw.~n_____________ __~l~~1~~_~a~_~~~oE_~~~k2__________________________________________of __f~~b~l!_~V~E~~LEE~!r~~E~_N:E!~~~__~~8]~_______________________address City of -'~,,_nJ.2~~'!.______. County of_!!'!.lL________Shte of _N:E!~'!..k:_..____ herein referred to aa Seller. COLONIAL CENTRAL SAVINGS BANK, F.S.B., which ia organized and exiating under the lawa of U.S.A., successor through mergBr, and whoae _ailing addr... ia 36800 Gratiot. Kt. Clamens, KI 48043, herein referred to aa Kortgagee, and Clifford W. and Sherrie S. Underwood of __~~~Jl~=~o~lE~~~=tl~~~i~~=]~~fi======================_______address City of_~~n~Eh~~______,County of____B~hl_____State of_N:2!~'!..~______ herein re~erred to aa Purchaaer 1. Sellar ia obligated and liable for the payment to Mortgagee of the debt evidence by a proMissory note 1n the sum o~ _ IQ!:'b'_ Jh'2.l!.sjl~!! _~i-!l~_I!l!...nE !~i!_aE.!:!_ floj 1 QQ::..-__==:.:.-.===-:.-:..-.===:.___===:.-_-=-=::.:..-:==:.:.:-:_ Dollars_~_j~QL~O~~QQ______,dated____~L~h_l~~~_______,lg~Z___and executed by Seller, which promiaaory nota ia aecured by a Kortgage dated______~~r~~1~~~______,19__~~__in LiberyJ____ Page J]!~~L_____ in the office of the Register of De.da of the County of__~a~l____________ State Of__~~[sa~l~___________ and Mortgagee ia now the owner and holder of auch promiaaory not. and Mortgage. 2. Seller has sold and conveyed or ia about to ..11 and convey the whole of the real property described in auch ~ortgage to Purcha8er~ and both Seller and Purchaser have requested Mortgagee to release Seller froa further liability under or on eccount ox such promissory note and lor such Mortgage. ror the reasons Bet forth above_ and in conaideration of the mutual conveyance and pro.i... o~ the part i.. hereto, Seller, Mortgagee. and Purchaser convenant and agre. B. follows: SECTION ONE UNPAID BALANCE OF SECURED OBLIGATION All .onthly install.ents of Principal and Intereat provided by auch note to be paid after___~~x_~~_________,19_~~__are unpaid. SECTION TWO RELEASE FROM LIABILITY Seller is hereby released fro. further liability under or on account of such Note and such Mortgage. SECTION THREE ASSUMPTION OF LIABILITY AND INTEREST AND INSTALLMENT INCREASE Purchaser agrees to pay such Not. in inatallsenta at the ti~ea and in the sanner therein provided: to perfors all of the obligationa provided in auch Mortgage to be perforaed by Seller at the tiae, in the aanner, and in all re.pecta aa therein provided: and to be bound by all of tera. of .uch Mortgage: all as though such Note and Mortgage, and each of th.., had originally been .ada. executed, and delivered by Purchaser: provided, however, that the interest on the unpaid Principal Balance shall, until paid, be paid at the rat. of_~![~~__________ ____L~______~ per annua, inconsecutive aonthly install~enta of Three Hund red and 1111 00 chs------------------------ S 300. 11 i~~1~di~9-p;i~~ip;i~-pl~;-1/12-;;ti;;t;d-;~~~ai-t;;;;-;~d----' inaurance on the____~~_____day of each month, b&ginning_~~~~l~~~_ 19_1HLu_' SECTION FOUR NO IKPAIRMENT OF LIEN The whole of the real property described in auch Mortgage shall re.ain subject to the lien. charge, or encuabranc8 of such Mortgage, and nothing herein contained or done purauant hereto ahall affect or be c:onatrued to affect the lien, charge or encumbrance of the Mortgege or the priority th.reo% over other liens, charges or encuabrances. or except aa herein otherwise proYided~ to release or af%Bct the liability of any party or parties who.soever would now or aay hereafter be liable under or on account o~ such not. and Mortgage. SECTION FIVE INTERPRETATION In this agree..nt. the singular nu.ber includes the plural and the plural nu.ber includ.. the singular. If this sgree.snt 1s executed by aore than one peraon. fir. or corporation aa Purchaser, the obligation. of each auch p.r.on~ fir. or corporation h.r.under ahall b. joint and .everal. RECOllIlElI& UEI.I(k __ _..-.I-- - Rt'I. 01 O~d$